Lease Agreement
Exhibit
10.26
Lessor
(hereinafter referred to as Party A): Xxxxxx Xxxxxx Assets Development Co., Ltd
Lessee
(hereinafter referred to as Party B):Harbin Huang Emperor & Golden Gym Club
Ltd
I. Party
A will lease to Party B the house owned by Party A which is located at 0 Xxxxxx
Xxxx, Xxxxxxx District, Harbin (withsquare meters of usable area) for the use of
________.
II. The lease
term will be from January 1st, 2004
to December31st, 2008
(i.e. 60 months).
III. The
rental amount of the house will be 26,250 Yuan per month, party B will pay
315,000 Yuan to party A for every 12 months, and should complete the payment
before the date of _________ , and Party A should give party B
receipts.
IV. When sign
the lease agreement, Party B should paymonths amount to party A as the
performance bond, and should pay the amount of as the indoor priority deposit.
The above deposits will be returned to party B after the expiration
date.
V. During
the lease term, Party B should be responsible for the property tax, business tax
and surtax, personal income tax, land-use fees, and rental management fees;
Party B should also be responsible for the telephone fees, security fees, water
& electricity fees, sanitation service fees, lift fees, the house management
fees.
VI. Party B
should pay the rental amount under the conditions of the agreement. If the
rental amount is not paid in time, Party A should charge 5% of the monthly
rental amount for the late fees. The payment is delayed for overdays, Party A
has the right to withdraw the house, and reject to return the performance
bond.
VII.
Party A should bear the house quality and maintenance responsibilities, Party B
should not change the house structure and use without Party A’s permission. If
the house, equipment s and property are damaged by Party B, Party B should
restore the house former situation or compensate the economic
losses.
VIII.
During the lease term, if Party A would like to withdraw the house, should
notice Party B by written one month in advance, and return to Party B twice of
the performance bond; If Party B need to cancel the agreement, should notice
Party A by written one month in advance, and should be ask for the performance
bond.
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IX. During
the lease term, Party B should not rent the house to the third party without
Party A’s permission. After the expiration date, Party B should finish the
payment and give the house back to Party A. If Party B need to renew the
agreement, should negotiate with Party A one month in advance, if Party B does
not give the house back to Party A after the expiration date and do not renew
the agreement, Party A has the right to withdraw the house.
X. If any
disputes arise, the two parties should settle it with negotiation, if it can’t
be solved by negotiation, could be mediated by the house lease management
department or even appeal to the court.
XI The
agreement will become effective after it was signed and sealed, three copies and
each copy for each party, and a copy for the broker. If there is anything not
mentioned in this agreement, the two p arties could negotiate and make an
additional agreement which has the same legal effect.
Lessor:
Xxxxxx Xxxxxx Asset Development Co., Ltd
Representative:
Zhang Daqian
Lessee :
Harbin Xxxxx Emperor& Golden Gym Club Ltd
Representative:
Xxxxxxx Xxxx
Signing
date December 24th, 2003
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Lease
Statement
Harbin
Queen Beauty Demonstration Center rents the house located at 0 Xxxxxx Xxxx,
Xxxxxxx District, Harbin, the rent term will be from Aug 1st, 2007
to July 31st, 2008
(i.e. 12 months). The rental amount will be 630,000 RMB per year, 52,500 per
month. Now, Xxxxxx Xxxxxx Assets Development Co., Ltd promises to renew the
agreement for 5 years, the rental amount will not be changed.
Xxxxxx
Xxxxxx Assets Development Co., Ltd
Dec 28,
2007
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